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Second on the list of West Midlands entrants is the Coates family, owner of online betting portal Bet365 and Stoke City FC - relegated from the Premier League last weekend.

Peter Coates and his children Denise and John are said to be worth £5.75 billion, up by £754 million from the 2017 list.

Denise set up Bet365 in 2001 in a pre-fabricated building in a car park and in 2016-17 took home an annual salary of £200 million, which was the biggest received by a woman in the history of British business.

JCB owner Lord Bamford features again in the Sunday Times Rich List

As a child, she spent her weekends working at her father's betting shops and went on to run the family bookmaker and expanded the chain to almost 50 outlets.

In 2000, having decided the future was online, she mortgaged the shops for a loan and brought the Bet365 domain name for $25,000 on eBay.

Bet365's name adorns Stoke City's shirts and the club plays in the Bet365 Stadium.

Other notable West Midlands names included in the list (see table below for top 20 countdown) include Coventry Airport's owner Sir Peter Rigby, Michael and Kenny Bruce, who founded online estate agency Purple Bricks, and Tony Murray who, at 98, is the oldest entrant in the 2018 Rich List.

The former RAF navigator, who served during the Second World War after France was occupied, runs heating and air-conditioning equipment hire company Andrew Sykes with his family.

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Sunday Times Rich List compiler Robert Watts said: "The Midlands is the engine room of Britain's economy so it's no surprise to see tycoons like Lord Edmiston from the car industry and Lord Bamford from the manufacturing world feature prominently.

"Many of these entrepreneurs enjoyed a 'Brexit dividend' with the weaker pound making their products cheaper to exporters."

But over our 30 editions we've seen more and more diversity in how these entrepreneurs make their money and our Midlands Rich List epitomises that change, with vast fortunes now being made from mobile phones, online gambling and even selling chickens."